Iridium Communications Inc. (NASDAQ:IRDM) Shares Bought by Ieq Capital LLC

Ieq Capital LLC grew its stake in shares of Iridium Communications Inc. (NASDAQ:IRDM) by 29.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,540 shares of the technology company’s stock after acquiring an additional 4,172 shares during the period. Ieq Capital LLC’s holdings in Iridium Communications were worth $538,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of Iridium Communications in the 3rd quarter worth about $57,000. Fifth Third Bancorp raised its position in shares of Iridium Communications by 19.8% during the 4th quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company’s stock worth $63,000 after buying an additional 357 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Iridium Communications by 44.8% in the 4th quarter. GAMMA Investing LLC now owns 3,473 shares of the technology company’s stock worth $101,000 after purchasing an additional 1,074 shares during the last quarter. KBC Group NV grew its stake in shares of Iridium Communications by 25.9% in the 3rd quarter. KBC Group NV now owns 3,796 shares of the technology company’s stock worth $116,000 after purchasing an additional 781 shares during the last quarter. Finally, Allworth Financial LP grew its stake in shares of Iridium Communications by 491.9% in the 4th quarter. Allworth Financial LP now owns 5,747 shares of the technology company’s stock worth $167,000 after purchasing an additional 4,776 shares during the last quarter. 84.36% of the stock is currently owned by institutional investors.

Iridium Communications Stock Performance

Shares of IRDM opened at $31.93 on Thursday. The company’s 50 day moving average price is $29.43 and its 200 day moving average price is $29.09. Iridium Communications Inc. has a 52 week low of $24.14 and a 52 week high of $35.85. The company has a market capitalization of $3.48 billion, a PE ratio of 33.61, a PEG ratio of 1.28 and a beta of 0.65. The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.25 and a current ratio of 1.73.

Iridium Communications (NASDAQ:IRDM) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.16. Iridium Communications had a net margin of 13.58% and a return on equity of 15.66%. The business had revenue of $212.99 million during the quarter, compared to analysts’ expectations of $203.78 million. Research analysts expect that Iridium Communications Inc. will post 0.89 EPS for the current fiscal year.

Iridium Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Monday, December 16th. Iridium Communications’s dividend payout ratio is presently 58.95%.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald assumed coverage on shares of Iridium Communications in a research report on Friday, January 24th. They issued an “overweight” rating and a $40.00 target price on the stock.

Insider Activity at Iridium Communications

In related news, Director Thomas Fitzpatrick sold 12,500 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $28.53, for a total value of $356,625.00. Following the completion of the transaction, the director now directly owns 241,030 shares in the company, valued at approximately $6,876,585.90. This represents a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

About Iridium Communications

Iridium Communications Inc provides mobile voice and data communications services and products to businesses, the United States and international governments, non-governmental organizations, and consumers worldwide. The company offers postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; and Internet of Things (IoT) services.